Product category:
Power Industry Process News
News Release from: Proven Energy
Edited by the Processingtalk Editorial
Team on 06 February 2007
Investment in UK wind turbine
manufacturer
Proven Energy, a market leader in small-scale, high performance wind turbines, has received an investment of GBP4.5 million from Low Carbon Accelerator
Proven Energy, a market leader in small-scale, high performance wind turbines has received an investment of GBP4.5 million from Low Carbon Accelerator Limited The investment is coupled with the Proven expansion plans to meet growing global demand
This article was originally published on Processingtalk on 9 Jul 2003 at 8.00am (UK)
Related stories
Robot army for Land Rover
ABB, the global power and automation technologies group, announced today that it has won an order from Ford Premier Automotive Group to supply 186 industrial robots to Land Rover
ABB creates new Nationwide instrumentation network
A new comprehensive instrumentation supply and service network has been created by ABB to serve customers throughout the UK: the Instrumentation Alliance comprises five carefully selected partners
In response to rapidly growing British and international markets, Proven Energy will increase manufacturing capacity in order to meet the volume of demand.
The company will also focus on Research and Development of further innovative power generators.
The company is also developing an onshore initiative, Windcrofting, creating energy from mini-windfarms across the country.
Further reading
Technical services agreement with Serbian Oil
AMEC has taken an important first step towards becoming a leading energy service provider in the Balkan region with the winning of a multi-million pound Gasoline Improvement Project in northern Serbia
80% growth for robotics and semiconductor supplier
With the Max 3000 series range of compact distributed motion controllers and multiple axis amplifiers, Agile was able to post an 80% increase in 2002 product shipments over previous 12 months
Aker Kvaerner to remove platforms on Frigg field
Aker Kvaerner Offshore Partner AS has been awarded the contract for engineering, preparation, removal and disposal of the Frigg Field installations by the oil company Total E and P Norge AS
Proven is an established, successful wind turbine manufacturing company whose clients include Shell, for whom Proven provides marine-grade, explosion proof wind-turbines to power offshore gas platforms in the North Sea, Sainsbury's, B and Q, and T-Mobile, as well as turbines for environmental domestic developments.
As part of the company's continued growth, Proven is also pleased to announce the appointment of new members to the management and manufacturing team.
This includes the appointment of Jeff Harding as Chairman Designate, Andrew McMullan as Managing Director, and Jonathan Nowill as Chief Engineer.
Andrew McMullan, Proven Energy Managing Director, said "I am very pleased to join Proven Energy at this exciting stage of the company development.
The LCA investment enables us build production capacity in a state-of-the-art factory and deliver on the large customer orders we are experiencing.
We will be creating a significant number of jobs locally as we build the business.
In addition, a proposed joint venture in India should allow us to further reduce unit costs from 2008.
We will use this scale and reach to increase our international market share".
Andrew was formerly Deputy-CEO of BoardEx, an online business development tool.
He previously worked at CSFB and Booz Allen Hamilton.
Jeff Harding was formerly CEO of Pacific Hydro and led their growth to become Australia's largest renewable energy company.
Jeff is also on the Board of Renewable Energy Holdings.
Jonathan Nowill was previously a Project Manager with Jaguar / Landrover, leading frontal impact safety activities.
As Chief Engineer at Proven Energy, Jonathan will lead a team of dynamic engineers in continuing R and D of the Proven innovative turbine technology - which utilises a unique blade design to optimise performance in light or strong winds.
Low Carbon Accelerator is a closed ended investment company created to invest in a portfolio of fast-growing low carbon businesses.
The Company listed on the Alternative Investment Market of the London Stock Exchange on 11 October 2006, raising GBP44.5 million.
The Company's investment objective is to provide Shareholders with an attractive return on their investment primarily through significant minority (predominately 25 per cent and above) holdings in a diverse portfolio of unquoted private companies providing low carbon products and services.
The Company's investment strategy is to target trading businesses with patentable technologies and products with a clear commercial application and the opportunity to gain a large market share of a new or expanding market.
The Company focuses on businesses with experienced management teams who have developed commercially viable products providing easily adoptable solutions which deliver immediate reductions in carbon dioxide emissions.
Mark Shorrock, CEO of Low Carbon Initiative, the LCA investment manager, said: "Over the past 15 years, Proven Energy has established itself as the leading small-scale wind turbine developer.
Working with the LCI extensive contacts network, Proven has now brought in experienced new personnel to support its expansion plans.
I am confident that they will, in conjunction with our increased investment, enable the continued success of the company".
• Proven Energy: contact details and other news
• Email this article to a colleague
• Register for the free Processingtalk email newsletter
• Processingtalk Home Page
Search the Pro-Talk network of sites
